Swiss wind blade composites firm Guit takes over Danish rival Fiberline
Swiss wind blade composites firm Guit takes over Danish rival Fiberline | Windpower Monthly
Swiss composites manufacturer Gurit has taken over Danish rival Fiberline Composites with the closing of a €28.15 million deal to buy the remaining 40% of the company it did not already own.
Gurit bought a controlling 60% stake in the Danish composites company in April 2022.
The deal for the 40% stake was completed yesterday (15 August) and was valued at €28.15 million, including a cash consideration and a longer term earn-out.
Fiberline Composites specialises in various key wind turbine components including the composite materials used in blades, nacelles and foundations.
Related Knowledge Center: ENERGY BASICS: wind
Decades of government support for the development of wind energy has resulted in lower costs and a rapidly growing share of electricity generated by wind turbines. Wind in 2019 accounted for 7.3 percent of electrical generation, surpassing for the first time hydropower at 7.0 percent.